Capitalism vs. Socialism - Dave Ramsey Rant
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I agree,'Fruits From a Poisonous Tree's is a great way for understanding your logic.!⚕️👷🎖️
"Capitalism" done wrong is not Capitalism it is actually Corporatocracy.
Capitalism: Small business owner, no ties to or kick backs from govt. The more people served the more profit made.
Corporatism: Big business with heavy ties to govt., $Millions "donated" to candidates. The more favorable policies and legislation passed the more profit and control they have.
+jaymanxv well said
Why do you say "donated?" Do you think the checks they write are fake? Go visit some of those charities. They are up and running every day because of people who donate to them. Corporations and the regular Joes of the world. And what kick backs are you referring to? I'd love to hear what those are.
Corporatism is Capitalism, stop distancing Capitalism to Corporatism they're the same 😡
A corporation is nothing more than a group of people in a legal partnership to form a business, there is nothing in capitalism or capitalism ideology that prevents people from doing that. That doesn't mean that corporatism is capitalism.
I suppose in a capitalism system, corporations can grow so large and powerful that they run things and exert power and influence over government and individuals in effect taking away their rights and freedoms. I assume that is what is meant by corporatism. Ideologies taken to its ideological extreme including capitalism is very undesirable. The only brake on capitalism is socialism.
Where I disagree with Dave the most is where he thinks capitalism can be moral or immoral, I disagree I think it is neither.
It's not a donation because there is an exchange of goods and services, it is only presented as a donation to avoid legal scrutiny, and the kick back is government installed monopolization and the general persuasion of the regulator to enforce regulation on everyone "equally" except only the strongest companies can withstand the regulation which kills the small businesses that still operate within large risk margins. If you increase the necessary risk to operate without scale, you marginalize competition until eventually no one is going to bother. It's not equal because you artificially price competitors out without having to beat them on merit. You have to be willfully ignorant to not be aware of the scam.
I live in southeast Asia where corruption reigns supreme. I can tell you that what Dave is saying is true. The people here are sooooo hard working yet most will never ever get ahead because the corrupt system is working against them.
Yeah that’s called a free market economy.
@@MrSpaghettiWestern19 nope. Free market economy has no powerful politicians that can be bribed.
@@MyDomesticChiffchaff You should be slapped across the face for being so ignorant
@@MrSpaghettiWestern19 I agree that it's ignorant but he's right on the basics which is that - regulated capitalism is necessary. It's a very powerful thing and socialism has never worked throughout history. One of the latest examples is perhaps Venezula.
Which country ?
I’m a hardcore atheist. And I’ve listened to everything this man has said on TH-cam and it has made me better. I’m just relieved that there are still so many that cherish what we have in this country. We need less government. Government is only here to protect life, property, and liberty. Beyond that, they’re stepping on our toes and need to get in their lane. Amen. 🙏
Athiest here as well and still like using Dave's information too.
I’m also an atheist and I agree.
Count me in too lol. I'm atheist and watch all of Dave's videos and follow his baby steps
@@BraxGandy stop sound so reasonable! 😅
I'm Christian, how'd you do?
Dave - You state that there are three factors that account for our status as the wealthiest nation in history: 1. Freedom; 2. Capitalism, and; 3. Judeo-Christian ethic. I agree with you that those three things are certainly relevant, but I think you are ignoring three other factors that are every bit as important if not more so:
1. Through pure geographical luck, our country has not been devastated by war as has much of the 1st world (particularly Europe in the 20th Century). One wonders how prosperous we would be if we had lost 20 million + citizens in WWII (as did the USSR and China) and/or suffered a near-complete destruction of our infrastructure (as did Germany and Japan).
2. We have been blessed with a greater abundance of natural resources than most countries.
3. We have not felt restrained - either by our Judeo-Christian ethic or by anything else for that matter - from taking those resources from those who were here before us.
IMO, those factors are every bit as important as the ones you mentioned.
It has less to do with Christian values and more to do with building your country using the blood of slaves...
When a restaurant server does well (which is most servers I have in my tourist town), I tip them 30-35%. When a server does poorly, I tip 5-10%. I’m an entertainer that makes straight commission. I haven’t had a job with hourly pay in years. If I’m caught being unprepared or a sourpuss by my audience, they don’t take out their wallet to pay me. I’m a capitalist with behavioral and ethical standards through and through.
Why do you tip at all when you get bad service?
that's weird... i dont remember my servers making my food, all they do is bring food to you.
I tip cooks more than servers. What do servers do? take your order, bring your food. What does the cooks do? They make your food the way you want. Yet, cooks dont get tipped, and they are severely underpaid.
@@soju69jinro: I'm never in contact with the people who cook my food when I go to restaurant so you must be going to different restaurants.
The issue I have with this is most people haven’t worked in a restaurant before. If they are super slow and you get terrible service that’s one thing, but if the restaurant is swamped and you get bad service the server is most likely trying their very best just to stay afloat. They have to tip out people (bussers, bartenders, hosts, the chef, etc) at the end of the night, and if you don’t tip at least 15%-20%, those tip outs come directly out of their pocket. The other issue I have is that a lot of people attribute “bad service” to things that have nothing to do with the actual server but rather with outside sources (ex: the host seating the server poorly making it impossible for the server to give proper service to their tables, the kitchen messing up your food, the food not tasting good, the food not coming out “soon” enough, the managers not scheduling the right amount of servers for that shift, etc) and the table takes it out on the server by leaving a bad tip for something that was out of their control. Work as a server in a restaurant before having an attitude like that.
When someone gives me poor service at a restaurant they get no tip at all from me. And if it is my first time there I might not go back again for a long time.
I love how everyone in the ex-soviet block escaped illegally on ships, trains, any means to get a better future, leaving behind friends, family, to a capitalist country. They were sick of the lies of the communist/socialist politicians. Yet today, young people praise it like it's the future. B*tch you go and live there if you want.
My grandparents told me tails about how the Olympic team used to go to a tournament, and never came back. They took the chance and literally flee the country. Surprise, travel was pretty much banned, you have to leave all your family behind just to go out for a week. They limited how much money you could take with you and if you didn't return, your family would suffer.
Nothing was available. You could buy lamps, but not light bulbs, because...well it's not like in capitalism where there is a gap in the market, let's fill it and drive down the prices to make it affordable. No. It was illegal. End result? You have to buy a burned out (!) bulb at the market, take in to your job, steal the one in the factory, replace it with the broken one, and take the good one home. That was one example.
Literally everything you touch at home, you had to fight for. Oh and you like your big house aren't you? Good. Tomorrow we will put 5 other people in YOUR house, because we are sharing everything here. They might also need you car. Welcome to your new reality.
This is just the tip of the iceberg, but you can't talk about it, because they will kidnap and torture you if you diss the system. I want to deport all those idiot morons who praise this system and let them live there. But I will be the first one standing at the airport refusing to let them home when they are coming back crying after a month.
Oh they'll love it the first few years. Then less when production and things they want slow and theres less. Then even less when theyre forced to work jobs that are necessary that nobody wants. Then less when theres toilet paper lines. Then less when the only ones with money and guns are the ones in govt.
That is not Party Approved Correct Thinking and Speech! Comrade Politburist Sanders for Comrade Chairman 2020!
Millions risk their lives to leave capitalist nations. Look at Iraq, Afghanistan, Yemen, most of Subsaharan Africa, Mexico, Central America, Libya, etc.
I love capitalism, i love my money, but I also accept solidarity with others who are not as blessed as myself. And therefore I am a big fan of sharing risks by sharing health insurance with all my fellows. Even it may cost more for me. Nah I do not share your opinion in this case. It is no accomplishment to have the most rich people in a country because we all know for every rich person we do have 10 poor persons. Extremly rich people do create extreme poor people because someone has to pay the final bill. And we do good in Germany.
Very solid and straightly explained.
Yeah only not at all tho. As there’s no way to reform capitalism. Gimme a summary of why this dudes right. You can’t because he’s wrong. You can’t have a millionaire tell you why greed works but the problem is we’re just a little too greedy. Capitalism doesn’t work, it will fall. This guy also seems to lack an actual understand of what socialism is.
The United States was not meant to be a socialist or communist country. We have lost our way. We need God, not government. We need to look in the mirror and take care of ourselves before we talk about what the country or anyone else “needs”.
Jason Keeling God would not care for capitalism that’s for sure. You need to wake up
Mr Spaghetti Western haha
Earl Nightgale said two very important quotes.
1.We become what we think about.
2. Our rewards in life will always be in exact proportion to our contribution our service.
Exactly what I was going to say, but you beat me to the punch cozzy3002.
First rule of economics: "There is no such thing as a free lunch".
Yes, we get it. Someone is paying for it. What is your point. What do you think people want that is free. Free public college and no student debt (paid for by tax on Wall Street speculation)? There is always a payer. Nice boring capitalist talking point.
There's also no such thing as a "free market."
A market is nothing more than a racket controlled by those who receive direct lending and funding by a central bank-- for the USA it's The Federal Reserve.
Bingo!!!!
Our economic system is biblically based? In Act, chapter 2 the new disciples shared everything. That was not just their church, it was their society.
I'm not saying I advocate that as a governmental system. But, saying that our capitalist society is based on biblical principles, especially in light of how the new testament disciples lived is a stretch, IMO.
Guess you didn't listen to everything he said, huh?
What exactly was it that you discovered under your skin at 0:01 Dave?! Please tell us!
You're missing the best part I'm in South Africa watching this and largely thanks to America most of the world is in the same position and if they're not there they were on their way to be getting there so thank you all America
Sad.
Wow man. Thanking the most influential and greedy country in the world for allowing you to do anything? You’re pathetic
Man, it's going to be quite the ride as we delve into late-stage capitalism
That's a bs term created by a socialist
Great points, so true!
Thank you Dave, would it be possible for you to do an updated video regarding socialism and capitalism for 2018? Thank you for what you do.
David Tollisen-please take an economics class. There's free ones offered from Hillsdale college.
I believe in common since capitalism as well.
Although as a pragmatist, I can't help but notice
how you did not account for the cost of living in the USA
compared to other nations when you declared those making
11k a year in the US are in the top 14% in the world.
Are you defending poverty?
Surely as a consumer advocate you with add
this to your conclusion.
And although I might seem critical to (what to us Scandinavians seem like) extreme capitalism, I am VERY happy about Dave Ramsey's advise on paying off debt, and saving money. Me and my husband are on track to pay down debt quicker and save more money than we have done in the past. :)
3/24/19.....Dave Ramsey is for real. Anybody with a brain---willing to use his/her brain---willing to think up an idea & work hard---can become a successful person who can earn a good living.
Nope. Many brilliant people who work hard are born into poor families or disabled, and the system is set up for those people to fail.
When the median wage of Americans has not increased in 40 years and 63% of Americans do not have $500 to meet emergencies then their needs to be some strong questions asked of the financial/ economic system. I agree that socialism etc is a broken system, but American capitalism is broken also. First requirement of fixing a problem is to recognise it.
What type of socialist economic system are you referring to as a broken system? Be specific. There are countless doctrines. Personally, I'm a democratic socialist and I believe it is only in this system that economic inequality, the mother issue, can be eradicated from society. Checked capitalism (actual capitalism) that utilizes social programs and a degree of government authority still would not fix economic inequality. The system is inherently flawed. Capitalists love to state that humankind is naturally selfish as a cop-out after capitalism fails time and time again (when corporations are bailed out by the gov. instead of dying out to the natural capitalist system that they should [corporate socialism]). The gold standard for capitalism, a social democracy (not socialism but utilizes social policy and is much closer to democratic socialism than the current system) still won't eradicate economic equality. Only in democratic socialism are citizens granted economic rights accompanied by natural rights and this is the biggest fear for corporations and the numerous complexes that exist in every realm of life we deem important (prison-industrial complex, the military-industrial complex, homeless-industrial complex, et cetera).
hater gater All currencies are fiat currencies. You should be happy about this. This means most people in society can receive a steady wage for the labor they produce. You HAVE to be a libertarian. There’s no way even a capitalist makes such stupid points.
hater gater inflation is also kept at 2% which is quite could. Inflation isn’t even entirely bad. You need some inflation.
hater gater consider yourself lucky that the government decides the value.
The only thing broken about our American system is the socialism parts that's dragging it down.
If you are a pragmatist than social democracy should be what you go for. So far it has worked the best. Combining a social state with capitalism, that is.
Yeah I do see that. Cant really compare big and smaller countries in that sence... But how does Canada finance their health care?
By the way - although we have a government run system there are lots of private clinics if you want to pay - so it gives us a choice.. (In case some ppl think its all run by the state over here...) :)
You are right (abt high corporate income tax in USA) - I had no idea! You are only beaten by Japan...
Does that encourage company owners to take out (very) high salaries (with less taxes on), rather than keep the surplus in the company to invest further...? Or how does that work.... ?
Company owner salaries don’t make a huge dent in mega corporations. What high taxes do effect is how much money can be spent on researching new products/ innovating
Dave I love your common sense! You are a leader of my generation and I'm in my 20's :)
He just compared the wages of the U.S. to the rest of the world. He’s no leader. He doesn’t even know basic economics and he’s a millionaire. He’s your stereotypical socialist!
@@astrophotos8368 You can compare the Wages of the US to the rest of the world.
Amen(:
@@astrophotos8368 guess why college is so expensivr?
Maybe more aptly stated as "free market"? I think the takeaway is basically this...... A just society is based on a "rule of law", rule of law is based on morality and morality is based on biblical teachings. At least that is how I see it.
Capitilism lifts oeople out of poverty
I don't think you're out of poverty looking at your grammar.
nice presentation, video capture...lost me with the constant "judeo-christian is the root of all good things & nothing else does it or comes even close" vibe, japanese aint christian (mush less jew, thanks kamizama) and they have a solidarity, loyalty, and work ethcs that shames pretty much all semitic societies....
I’m a capitalist, but I also believe in strong social safety nets as being critical for a strong society.
Only if that’s where your tax money actually goes
Which is why we need a capitalist market to have money in the first place.
It’s not good to stay there and get lazy
15% taxes? That's way lower than it is here in the USA. I guess I'll be moving to Norway.
Bubba Brand- you should listen to Dave's show and maybe read total money makeover. I've got myself in a lot of debt too but thanks to his teaching I've diagnosed what's gotten me there and I'm getting out. You don't have to be in debt for the entirety of your life.
Awesome
But the higher taxes is apparently not destroying our happiness (Scandinavia and Canada) - they are among the happiest countries the the world (in the top 6).. But USA is on a descent 17th place though.. :)
exactly
@@demetriuswright6993 due to excessive debt!
Dave, I'm curious about your opinion on structural adjustment programs in developing countries via the IMF and World Bank?
He doesn't care
Sounds like imperialism to me. The highest stage of capitalism to be exact.
@@JakubKiebleszyup
Good!
How big a group of wealthy people would there be if they had paid their share of taxes? How is it that the rise in national debt is proportional to the decline in corporate tax rates ?
I would like to correct that those countries in Europe like the UK and France etc aren’t „socialist“ but are „social democracies“. The way socialism and communism are related is that communism is a TYPE of socialism.
He wasn't talking about the UK, but more about Italy, Spain and France I think.
@@georgedionisi9871 It’s the same for those countries as well
Well im from Sweden and i think we have better economics here than i the states.
Less government corruption probably and far less dei
No system is perfect, having lived for 63 years I think we could do better. We need more of the Mr, Mrs or Miss average people having opinions of what happens in Government. Not just Politicians ( LAWERS)
no, average people have terrible ideas--seriously, go talk to some
People with higher income have a higher tax rate.
But what I think is the best advantage with our system is that it takes the worry away - no need to worry if the health insurance will cover whatever sickness you (or your children) might get. and no need to worry how you will give your children a good education (and with that the best starting point in live). Many things can be said to be wrong with the system- but I think taking that stress off people is good..
I agree with Dave on many things but he forgets one thing: over 70% of people in the world don't have house mortgages. They own their homes free and clear and the taxes are minuscule. Most people in the world can still have a home even without a job which you can't in the US.
Thats not free, though. The money comes out of your pocket anyway in taxes. Its more of an illusion of having free things.
@@ivyc5731 still, when people lose a job in other countries, or get a medical bill they do NOT lose their home. Most countries do not even allow a home to be seized for ANY reason. Thus, those people can plant food in the yard and survive even without a job.
Please give me an example of a country without home mortgages and share an average picture of their home. A 300 square foot home of mud and sticks could be had with no mortgage in the USA
Can we please give this video 200 million views before 2020 is over!?!?!?!?
Nope
About socialism in ex-Yugoslavia is since 1976 was broken into great depression, waiting in rows in markets, skyrocket inflation, paying debts, get salary without working in factory (yes that is paid without even stepping one day at work), that ended with wars in the beginning in 90's. Very similar like today Venezuela. A lot of people, still struggled in golden era of socialism. Todays, the young generation is lied about golden era of Yugoslavia, but the most of them forgets to ask old generation about bad financial situation in golden era od socialism. Many of people claims that failure of Yugoslavia is because of CIA, which is non-sense to me.
What about my bank making up fees without telling me then charging me those fees without telling me, but you are right in the end
Where in the world can you make a fortune, loose it and make it again and again and again. Like you said, nowhere. The first two points are what I consider what made this country great - liberty/freedom and capitalism . If this country wasn't so great why did and do so many people come here, why not the middle east, Cuba, Venezuela and other Socialist/Communist countries. Thank you for a great video, the only thing I would like to see the Govt loose - the 16th Amendment/income tax and the IRS. That would make it so you could keep everything you earn.
Very well said Dave! LOVED It!
Hey honey hows your lips!
I think it's horrible that people hi there racism in oppression behind Christianity. That is just blasphemous!
@Damon D the Bible says "beware of wolves in sheep's clothing" these races walking around here talking about I'm up man or woman of God in the blood of Jesus covers me yet they're using the n-word all the time it's just deplorable! Thanks for your comment.
Amen brother
Well said, Mr. Ramsey!
So it is interesting topic. Many years ago I went to Nicaragua to tour small organic coffee farm cooperative. The people were amazing. Hard working, tight families. The living conditions was a shanty in the jungle with a dirt floor, a divider to section off sleeping area from living. No power, no cell phones, no running water and I would not even consider the roads infrastructure they were so bad. When you see people living like this and then see socialist leaders coming to power such as Ortega (again) I can see why they choose socialist over capitalism. In their mind it is the only way to try and lift an entire population out of poverty.
Socialism is a knee jerk fix. Capitalism works when the people are educated to succeed and a government that protects their country's interests but protects its citizens from harmful practices.
What you are seeing now is the result of dumbing down education, placing corporate protections over citizens and a knee jerk fix to health care.
Geoff Corey You are right; vimeo.com/63749370
You got it - capitalism is great - with government keeping the playing ground even. Human nature is greed - not the betterment of society, And yes folks, you may believe "greed is good" but there is a thing called society. Everything is the world is not just for my personal gain and desire.
In 2013, my health insurance went from $15/week to $25/week and went up almost exactly by 30% each year. Back then I had no idea why, didnt even know what obamacare was (I dont think anyone really knows what it is till this day, other than a failure).
Well yeah. Obama is a capitalist. And Obamacare isn’t socialist. So you’re saying socialism is the answer?
@@MrSpaghettiWestern19 No one said Obamacare was socialist...but it was a step in that direction by governing more control over heatlhcare.
Obamacare was giving more government control over healthcare, how is that a step in the direction of capitalism?
It was the government mandates that resulted in the increased cost of healthcare.
Obama himself said it was the first step to socialized medicine.
Capitalism is fine, but it can go too far. People forget that before Obamacare health insurance companies would often deny health insurance to people with pre existing conditions, then the people would either die or go bankrupt, or both. People forget that Obama care increased the number of people with health insurance by 20 million.
Anti-socialized medicine people often cite that the states has the best medicine in the world, and it's thanks the private medical system. But, I have never seen any evidence that medical innovation and the quality of doctors in the states was diminished after Obamacare.
So people pay more for their insurance under Obamacare. Yeah, it costs money to get people health insurance. Obama care isn't perfect but it is a heck of a lot better than the atrocities that were going in before Obamacare and it is infinitely better than Trump's pretend non-existent plan.
If everyone were covered, and everyone paid, then low-risk populations would lower the average cost for everyone. The solution to healthcare in the states is complex, but it must involve everyone being covered. Covering everyone is both the means and the end solution to health care, and you can call it socialized medicine if you want.
Health care is one of those things where pure capitalism fails.
@@raymondblake5765 How does capitalism fail healthcare when privatized healthcare has lead to the largest advancements in modern medicine as well as offering better quality service?
I mean, Im not sure how you can say that privatized healthcare is bad when people flock FROM countries with socialized healthcare TO countries like the US who have privatized healthcare.
Obamacare may have insured 20 million NEW people, but lets not forget the millions who LOST healthcare because of the tripling in cost over the course of 2 years.
Because of Obamacare, millions of people like me LOST health insurance because we simply could no longer afford it. And still cant.
Also, your theory that if everyone was covered and everyone paid is not logical. As not everyone has the same medical needs, so what you are left with is a graph that goes from those who need no healthcare to those who need millions of dollars worth of healthcare per year. You cannot develope a flat rate payment system for something like that when the true cost is CONSTANTLY fluctuating based on the overall health of our nation and the diversity of health quality.
You cant just simply sum up the cost each person will pay to cover expenses. And to have people who are already living on the line, making them pay even more to cover someone elses cancer treatments isnt fair to them and their family who now has to go hungry because of someone else.
Its a trade off, and a bad one. Our healthcare system was one of the best if not the best in the world AND affordable before Obamacare.
@@raymondblake5765 If you think that its ok for some people to not have health insurance because they cant afford it so that others can have it is an acceptable solution, then there truly is something wrong with you.
The problem with healthcare is insurance companies. Eliminate them, you bring the cost down substantially. But having the government regulate healthcare is proven inefficient.
Now everyone that has made mistakes like student loan debt, or any kind of debit see the people who are making it scream that is not fair we need equal pay and that person needs to give up his money (he built) and give to everyone
Why does this video look so grey
We in the U.S. pay more in taxes per capita for healthcare and we don't even get it...
Seems weird that people believe state funded healthcare doesnt work... I mean plenty of examples just seems like capitalism works but sadly people that run the US dont want that as it makes more money to not
Some say that people who live with universal health care doesn't get any. More people from Canada come to America for healthcare than the other way around.
@@azorah3986 That's there is the real problem with what capitalism has evolved to today in the US. I bet my money sociologist concepts and ideologies are the perpetrators of this flaw in the system because honestly the pure idealistic and practical form of capitalism alike ....JUST WORK. Nothing extra required of the system, except the reformation of the human condition.
I couldn't help but shake my head as Dave was praising the advantage of income capitalism has provided while knowing the meddling of the greedy has created this rift in the system today SMH.
Healthcare student debt and homelessness were not issues when corporate tax was %50. ( pre Reagan)
@@redwater4778
What does corporate taxes have to do with either?
Don't mix religion anywhere and everywhere
I came to this video from listening to a Dr Richard wolf debate, capitalism vs socialism. You guys should check it out, it never hurts to learn a new thing.
I agree. Ramsey has no idea what he's talking about in regards to Socialism/Communism. And, his assertion that "capitalism gives the little man a chance". That is just blatantly false. Also, as Professor Wolf can point out, we have never had true Communism (except maybe the Paris Commune and a few other isolated examples). We have only ever had Authoritarian Socialism.
Jesus was a capitalist???
Wow, Ed, how does the kool aid taste? Sounds like you made yours with sour grapes. ;)
I'm a socialistic capitalist. Meaning I firmly believe in capitalism as the best way to generate wealth. That said, I believe there needs to be a mix of socialism to take care of basic necessities so private enterprise can be free to prosper. We live in a socialistic capitalist society already. We rely on the gov't to fight crime, keep criminals locked up, fight fires, test and treat water, provide recreation in the form of parks, pave and plow our roads, build and repair bridges, and for the poorest among us, provide basic healthcare services as well as public assistance. Yes, those enterprises, especially public assistance, can be abused, but by and large, we all rely on the gov't for some aspects of our lives. In addition, if I were a business owner, I wouldn't want to have to police the neighborhood around me, I wouldn't want to have to fight my own fires, I wouldn't want to have to make sure criminals stay locked up. A capitalist society is a wonderful society, but there needs to be a mix of socialism as well. We were the most prosperous in the 1950's when union membership was at an all time high. Unions are an example of socialism in the workplace, and when this country at its highest union membership rate, people could afford to buy cars and homes, take trips, have children, and retire with dignity. Unions didn't drive out employers. Their unwillingness to work with unions did so. All unions are is a collection of employees saying the same thing. Much like the Chamber of Commerce is a union for businesses. I believe in capitalism, but I also believe in some forms of socialism.
Be a reform
I'm a tall small person.
That's called a welfare state, and the US has been one since the New Deal. Oddly enough, the New Deal helped to stave off true socialism from coming to power at a time when wide open capitalism was spinning its wheels during the Great Depression. Also, a hundred years ago, both parties were more or less pro-union, and many Republicans considered themselves to be "progressive." In fact, former Republican President Theodore Roosevelt later founded a third party called the Progressive Party, a.k.a the Bull Moose Party.
@@yesudeep here's a simple way to look at it. Socialism without capitalism is communism. Capitalism without socialism is fascism. We are not as divided as "they" want us to think we are.
Capitalism has nothing against unions.
i think we've got the top 1% of bills too. if im so rich, why am i in such blinding debt
Bubba Brand because of decisions we make, things we buy, things we “invest in” like college education. With great power comes great responsibility, so we have money, we need to learn to use it or not use it properly.
Voluntary collaboration.
I love your videos, thank you for explaining these things in an easy to understand manner!
It's not just judeo-christian ethics, it's just ethics...
Nah, it actually is though. This is the Sam Harris fallacy. It exists because of creationism, but atheists pretend it does out of thin air, ignoring that there's no basis for it.
On one of your recent shows you talked about Walmart and Tyson and how you support them. I know you believe in capitalism, but both of these corporations have poor business structures. Neither of these companies care about the little guy. Tyson has created health issues with their food (chickens) for humans (antibiotic resistance due to overuse of antibiotics and use of pesticides such as glyphosate).Walmart takes money from everyone (local and federal governments) and then pay overseas workers below living wages (and less than our minimum wage) to make their products. I've learned that the way a company treats their workers and their product (especially animals) shows how they feel about their consumer. Neither of these corporations have a ethical business set up.
Connie, neither do the banks care about the little guy. They take advantage of people too. Dave advocates fighting them by getting out of debt and not giving them our money. We can do the same with Walmart and Tyson. Vote with your dollars. Now, I have signed those change.org petitions to get Tyson and Walmart to stop their animal abuse practices, so I'm not defending these organizations and their practices.
I think Dave's point is that he supports capitalism, but he doesn't necessarily support bad businesses. There's a difference, and we shouldn't confuse the two. Hope this helps.
Walmart pays workers overseas less than minimum wage, because you couldn't afford their prices if they paid them US minimum wage. Also, minimum wage in the US may not be what is required for a living wage somewhere else. In fact, the cost of living is usually much lower in places without a minimum wage. When labor is expensive, it makes EVERYTHING more expensive.
This doesn't mean I support Walmart's decisions, only that I understand there's more to these decisions than what's often implied. The fact of the matter is that US unskilled labor is too expensive for many companies to afford without either significantly cutting back their profits, or raising prices considerably. And which one of those drawbacks do you think a business owner is more willing to accept?
Wisdom
15% tax rate? I wish mine was that low in the US.
I know this is an old post, but I'll say one word: Venezuela.
@Xadion Automation is amazing.
I'll say Sweden
Epic, as in Fantasy Three words. What about Europe?
@@stage51manager What about capitalist Europe? They aren't socialist.
Benjamin Kesler What about corporate socialism 💰💵💸
Amen!
2:40 what you got wrong is that the U.S is stacked with resources and cultivated land. We also have been on the winning side of both world wars with the only damage being done on our land was pearl harbor. A long side that we also have access to the two oceans. It's partialy because of capitalism and "christian ethics" but I think it's mainly because of those three things.
why is Singapore successful? because of its resources and cultivated land?
the happiest countries around the globe, Denmark, Norway and Switzerland leading the pack. We don't have capitalism system anymore after the bailout we now have a socialistic-capitalism system. We all share in the losses and none of the gains!
Happiest country in the world? Do you know the suicide rates we have? Do you think people in Switzerland are happy to work more than in other countries? Don't listen to some stupid studies, I live in switzerland and you will never see people smile in public, that says a lot.
"after the bailout". That right there says it all.
@@caseygriffin8878 agreed.
Bro, these Nordic countries have capitalism not socialism. Social democracy to be exact.
There have never been any true socialist or communist counties. All we've tried so far is different kinds of market capitalism.
OMG that's what they all say
There have been some cases of socialism with the government owning all the business which failed but never a real communist society because it doesn’t work Marx was wrong plain and simple
Venezuela, China, Prussia, Italy (in WW2), UK, Canada
Money never stops working money only stops working for you .(if you let it!)
I think there should be a middle ground so everybody has money to spend and be happy which in turn gives money to the capitalist companies. Too much capitalism might turn out to be hoarding money and nobody else would be able to spend money to gain more money.
I'm disappointed with Dave's explanation. I'll try to help him. Yes absolutely capitalism is awesome. Everybody confuses capitalism with the Free Market. Technically they are not the same but there is a lot of overlap. For this comment, I will use 'capitalism' as if it means 'Free Market'. In capitalism and socialism People get hurt (economically, personal health, way of life, etc). However in capitalism, you have an easy way to fix things. With socialism you're tied to the whims of the masses and the polticians who may not really have your best interest at heart and if the do, they most likely do not know what they are doing. So with socialism there is great suffering and you are forced to be a victim because the power and decision making that you had for yourself and your family has been taken (stolen) from you. In capitalism, you have thousands if not millions of choices. You are not stuck with the only government option. If you get harmed by a business or if a business has a bad product or service, then they will soon be out of business and if you were wise, you didn't spend too much money so you didn't lose all that you had. (like with socialism). in the case of suffering in capitalism, you have the power to change direction for yourself and your family right now, getting on a better course.
Not all of us have choices. I'm disabled and I already am at the mercy of politicians deciding how much I support I deserve. I have to keep fighting for it. I'd rather have a bit more socialism (not strictly, but maybe free market + socialism) because once able-bodied people (the majority) start being affected by the whims of the government, they're gonna fight tooth and nail to get fair wages and support, and the government will have to give in because you can't fight the masses. (vs. a small group of disabled people)
I live off of $775/mo. from social security and it's not enough. Again, I cannot work. If I, one of the more vulnerable in society, am not allowed to afford basic necessities and housing, something is wrong with the system and we need to fix it.
@@LushiaKyobi unfortunately your little bit of socialism is a curse for the rest of us. You make us your slaves because the government steals from us to support you! And if we try to defend ourselves, we will be put in jail. Or worse killed in the process. What kind of mind games do you socnalists play with yourselves so that you don't feel to guilty?
@@alabobacbacfarac1170 People are delusional
@@LushiaKyobi Live off rice and beans for a couple of months and invest a percentage of the $775
I'm gonna disagree with you on the "Judeao-Christian values" statement, if only because it's not entirely accurate. Those values assisted in the prosperity of the nation in that many of them corresponded with Natural Law, and encouraged compassion. There are many Judeao-Christian values which were neutral, or actually detrimental to Natural Law, but many of those were already abandoned, even at the time of the country's inception.
A society which aims to be free of fraud or coercion is the reason for prosperity. This would be true regardless of the religious values of the society. That many of the founding fathers held the tenants of Natural Law in high regard, some as a consequence of their religion, and some despite their religion, is the primary cause for America's prosperity.
As an example, Jefferson wanted to dissolve the institution of slavery, despite many Christians being in support of it at the time, and believing the institution was justified by the Bible. Slavery is most definitely a violation of Natural Law, but not explicitly a violation of Judaeo-Christian values. Those values only demanded that you treat your slave with compassion, and many Christians of the time believed they were doing just that, and that the lives of their slaves were considerably improved by their indenturement.
10 years later nothing has change and never will
Big Mac Index. "People" make it hard to try and figure it out.
80% of the worlds population live on less than ten dollars a day. I dont see whats pragmatic about maintaining a system lile this.
You got it wrong! You are blaming the free market for the insuccess of the countries that do not have a free market! It is precisely where the government maintains control that people do not succeed, not the opposite!
@Fabian Kaufmann Absolute NONSENSE!!!! You, people, say the most preposterous things! People need to be, in fact, COMPLETELY irrational to say these things while at the same time ignore what happens in countries where there is no freedom and the state controls EVERYTHING! Unbelievable....
@Fabian Kaufmann salaries evolve from local economies...this is base economics...
Those that live on $10 a day live in countries with stagnant economies that are a direct result of either poor fiscal policy and/or total government corruption. They can’t keep up. Not the other way around.
@@ferrer65 As someone who has lived on $10 per day, I will 1000000000% agree with this. Socialism at its finest.
Question... are stealing native land and slavery also judeo-christian values? ... Because those had big roles in the 'wealth-building' ...
No, the abolitionists were Christian
It is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of god
Matthew 19:24
Is it really so complicated to do the right thing. In a world of excess there is no reason that we should suffer from lack of basic needs. Is it ridiculous idea that our basic human needs (healthcare, housing, food...) should be met with consequences for the working class and poor. We should still have a system for rewards (better jobs that we actually enjoy, a nicer car, and other personal rewards) meanwhile haveing our needs met and all of this bundled up into a nice little package? Does this have to be Socialism vs Capitalism? Why can’t it be both?
Every country in the world has some levels of socialism (police, military, roads etc.) and some levels of capitalism. I guess the debate comes on how much of each you think is best. It's easy to say "I'm a capitalist" or "I'm a socialist". But pure capitalism means no government and pure socialism means no free market
I think a system like Canada (my country) or the Nordic countries (Denmark, Netherlands, etc..) seems to work pretty well. I think it strikes a good balance between capitalism and socialism. I'm not sure what you call this system, *democratic socialism* I guess, but works fairly well. Sure we like to complain about taxes but when you see all the benefits and services you get I think it's the best system.
Try and go to the hospital in Canada and see how they treat ya
The success of Stalin - the man who used to boast that he conquered the United States "from the plow to the atomic bomb in just a generation" - compared to Gorbachev's failure shows that a socialist economy is unable to function with a minimum of efficiency without requiring a massive dose of political violence. In an attempt to reform a decadent regime, Gorbachev moved faster with the process of economic opening in the hope of removing the predictable resistance that the Soviet bureaucracy would create to economic reform measures, as thorough proof with the failed attempt. coup d'état in August 1991 - which ended up precipitating the final crisis of socialism and the dissolution of the USSR itself
Its Chinese parallel - Deng Xiaoping - adopted a logic diametrically opposed to that of Gorbachev: it prioritized the achievement of economic prosperity (adopting in practice capitalism) precisely to delay any attempt at political opening, as was evident with the acceleration of the economy. reforms after the Tiananmen Square massacre.
It is important to note that it was Karl Marx himself who, in his Contribution to the Critique of Political Economy, discerned the scenario in which the conditions for a social revolution process are formed, describing it as follows:
'At a certain stage in its development, the material productive forces of society contradict existing production relations or - which is only their legal expression - with the property relations in which they have been active until then. From the forms of development of the productive forces, these relations are transformed into fetters of them. So, it is a time of social revolution. ' (Reproduced according to MARX, K. Preface to the Contribution to the Critique of Political Economy, organized by Florestan Fernandes and published under the title K. Marx: Theory and historical process of the social revolution, In Marx & Engels, Great Social Scientists Collection, History, vol. 36. São Paulo: Ática, 1983. p. 232. Commemorative edition of the centenary of Karl Marx's death)
By rejecting the pursuit of profit maximization as an instrument to stimulate innovation, socialist countries ended up condemning themselves to obsolescence. Thus, they lost the chance to incorporate the productivity gains made possible by technological progress. That is why the capitalist countries managed to provide a greater rise in the standard of living of their population, even without pursuing the egalitarian ideal. Therefore, until the “final crisis of socialism” (to paraphrase K. Marx's own definitions once again), it was only a matter of time. But religious fanatics do not give up on their faith, even against the indisputable proof of the facts, which completely refute it!
Health care should be a right, not a privilege. No one should go bankrupt because of illness or injury. No one should die because they can't afford inflated drug prices for things like insulin. And university doesn't have to be so expensive. Public universities didn't use to be so expensive in the US. What happened? Corruption is what happened.
The governor loaned more money so colleges raised the price
I’m an atheist. I love Dave. And I try to do the right thing because it’s the right thing to do. It has nothing to do with Christianity. Do Unto Others has been around long before the Bible was written. It’s common sense. I don’t need religion to tell me how to be a good person.
Yes you do make a good point. Dave just uses his religion to guide him. Either way, you both end up in the same place.
These Capitalism vs Socialism debates keep overlooking the fact that most developed countries have mixed economies. So it's about how much more or less you want of each?
My point exactly. Many did not pay attention to this in school. People are sheep. Following talking points of an agenda.
Exactly, good point. I would venture to say that the most successful countries are the ones that take the best bits of both systems and combine them. Most countries in europe, australia nz uk etc have elements from both and look after their citizens and have far better outcomes in education, healthcare, retirement income than the US
I’m all for Capitalism, but what’s religion gotta do w this 😂
The Protestant work ethic
Dave actually is a "Capitalist", however existing and believing in capitalism does not make one a "Capitalist".
Capitalism can be broken down to you simply getting a paycheck. You "sell" your labor in exchange for money. Then every dollar you spend is engaging in capitalism.
@@Josh-179 sure under capitalism a worker may exchange their labor for a wage, but the worker is not the capitalist.
Bernie Sanders 2016
Get money out of politics and fight the billionaire class
Aaron Bauschardt Just surrender your.freedom to s centralized government just don't give mine away
threre is a big difference from a central government that has some power to a central gov't that has absolute absolute power
socialism must control the economy when you take control of the economy and production and disruption of wealth you control peoples lives witch will take coercion by government authority to do.
Brian Cain Brian most large businesses already produce in other countries and sell their products to the US and Europe. Social democracy is basically socialism lite or you could call it welfare capitalism. It is where the healthcare system is nationalized and there are strong social saftey net programs for the middle and working class.There is still the free market for people to start businesses etc If the middle class had more money in their pockets then they would spend it on products which would create jobs. I love how you don't even criticize me you just tell me I am wrong and don't explain why.
Capitalism: high risk, high reward, Socialism:slow and safe.
If you are born dirt poor, or get very ill, or have an accident or lose your job in a pure capitalist system, you get fucked over good. On the other hand, if you don't have bad luck and work hard, you will get rewarded greatly. You will have higher chances of getting rich.
In a socialist system you will indeed have to pay more taxes, which is unappealing to somebody who has a good income and can take care of himself. Your chances of becoming rich are slimmer.
Socialism provides a safety net. If you lose your job at your 30's, you will not lose your home to a bank. If a family member gets ill, you wont have to empty your bank account. Your kids can go to college without getting in debt before they even start working.
Pure socialism or pure capitalism doesn't work, but having a bit of each works great.
I agree. Very well put, not biased at all. I do think if you can incorporate both you will have a much better system.
Correct. The debate in America is always going to exist which is fine.
ditisnietpablo Could not agree more. Scandinavian countries and Germany do a mix of both and they are able to provide free college, free healthcare, paid vacations, etc while still keeping a free market system and good private property rights and social freedoms.
Supreme Bandodger LOL. Socialism is not slow and safe.
Well, the nature defined the competition as the most pivotal path to evolution...!!!
Well said Dave...... much better delivery than mine. :)
I'm going to send this to my Canadian friends when they tell me that Canada is richer and better than the USA because they are socialists.
I'm Canadian and we have the most arrogant people here you would ever imagine. People here think Canada is the greatest country in the world because "we're not the USA".
APlaceToBeWithMyThoughts you should be proud your a Canadian. Cause over here to call a ambulance cost $2.500
America doesn't have an income problem, America has a spending problem.
Workers are many times more efficient than they were decades ago while making far less adjusted for inflation. Meanwhile, rent has skyrocketed even with inflation considered. It’s an income problem, it’s a capitalism problem.
@@SeppyLive How is it a capitalism problem when the root of the problem is the increasing size of government and public spending? Which system is the one that is always asking for more public spending and more power to the government? That is socialism, not capitalism. Inflation is basically another form of taxation by the government and since many decades ago they can just print money as they pleased and doesn't need to be backed up by something of real value like gold.
We also made a load of money with slavery.
Our free labor source.
Only the plantation owners. The rest of us had Great grandparents who worked like dogs
Canada?...
Very well said 👏🏻👏🏻👏🏻👏🏻if someone wants a great example of socialism/ communism come to Venezuela and see how we suffer from stupid socialism 😡. God bless USA 🇺🇸
@Fabian Kaufmann, problem is powerful people in Russia never really gave up communism.
You don’t have to agree with Venezuela to like some socialist policies.
you know you can have both socialism and capitalism. Americans don't realize that socialism and communism are not the same thing
You're right.
Dave Tinoco would you then privatise the fire department? "We will only put out the fire in our house if you have paid the fire insurance.."
Helen E That's not the only business model possibility if you were to privatize firefighting. People still get treated in the ER even if they don't pay their health insurance.
John H Meaning they have to wait until they get really sick before seeking help... (help would be cheaper if they could get help earlier..)
Helen E Help would be cheaper if EVERYONE PAID for the cheap stuff. Like when you see the doctor earlier. Or get a cheap generic prescription. IF we all we did that, and had a healthcare savings plan that began at birth for catastrophic care, costs would come way down and care would not have to be rationed.
I would like to cite the figures of 34k being in the top 1% worldwide and 11k being in the top 14% to all those considering voting for a socialist movement. Could someone tell me where it comes from? In a similar vein, I once heard that even the poor (below the poverty line) in this country live 18 times better than the poor in other countries. Then I heard it was 34 times better. Not sure where that came from or how they would even calculate such a thing, but anyhow, looking for a reference.. thanks in advance
There are websites where you can put in your salary and calculate the percentage
So when you serve and you tell the truth is from the Judeo-Christian ethic. -- D.R. Gives the little man the best shot in the world.